New York consumers more confident in September, survey says

New Yorkers were feeling more confident in September even as confidence waned nationwide, according to the latest Siena Research Institute survey.

The institute’s consumer sentiment index jumped nearly 3 points to 76.2 while the nation’s tumbled 4.6 points to 77.5. That 76.2 figure put New Yorkers at the break-even point where optimism and pessimism are in balance.

Doug Lonnstrom, the institute’s founding director, blamed the national slide in sentiment on the pending federal government shutdown.

“As consumers braced in September for this week’s government shutdown, national sentiment fell by nearly five points while in New York confidence climbed back to the break-even point,” he said.

Lonnstrom added that the number of New Yorkers planning to buy a house was at a five-year high in September, with much of the increase from households earning less than $100,000 a year. Meanwhile, those making more than $100,000 were behind a boost in furniture-buying plans. And concern about gas prices fell as the prices declined.

Democrats continued to be the most optimistic demographic, with overall confidence climbing 1.1 points to 85.5, followed by those making more than $100,000, up 2.2 to 85.0, just ahead of those making $50,000 or more, at 79.7, although that was down 2.4 points from the previous month.

At the bottom were Republicans, at 66.4, up 1.6 points; those making less than $50,000, at 71.0 although that figure was up 5.9 points; and upstate residents, at 71.7, up 0.6 points.